Most cryptocurrencies rose on Monday amid mixed trading as traders await more news on the trade war, in addition to the Fed’s meeting. 

The Federal Reserve’s policy meeting starts tomorrow, with the bank widely expected to hold interest rates flat despite Trump’s calls to cut rates.

Investors will assess Fed Chair Jerome Powell’s remarks closely following the meeting to gauge the likely pace ahead of interest rate cuts this year.

Earlier US data showed the ISM services PMI up to 51.6 in April from 50.8 in March, while analysts expected a dip to 50.2.

Otherwise, Beijing finally hinted this week that it’s open for negotiations with Washington on trade, thus calming investor concerns about the trade war.

Ethereum

Ethereum fell 0.1% on Coinmarketcap as of 20:09 GMT to $1825.4.

Ripple

Ripple shed 0.4% as of 20:09 GMT on Coinmarketcap to $2.16.

The US dollar fell against most major rivals on Monday, although mildly, as trade concerns calmed down with the markets now focused on the Federal Reserve’s policy meeting this week.

The Federal Reserve’s policy meeting starts tomorrow, with the bank widely expected to hold interest rates flat despite Trump’s calls to cut rates.

Investors will assess Fed Chair Jerome Powell’s remarks closely following the meeting to gauge the likely pace ahead of interest rate cuts this year.

Earlier US data showed the ISM services PMI up to 51.6 in April from 50.8 in March, while analysts expected a dip to 50.2.

Otherwise, Beijing finally hinted this week that it’s open for negotiations with Washington on trade, thus calming investor concerns about the trade war.

On trading, the dollar index fell 0.1% to 99.9 as of 19:39 GMT, with a session-high at 100.05, and a low at 99.4.

Aussie

The Australian dollar rose 0.3% against its US counterpart to 0.6466.

Loonie

The Canadian dollar rose 0.1% against the greenback as of 19:55 GMT to 0.7239.

US stock indices fell on Monday as most tech companies released their quarterly results with focus now turning to the Fed’s meeting.

The Federal Reserve’s policy meeting starts tomorrow, with the bank widely expected to hold interest rates flat despite Trump’s calls to cut rates.

Investors will assess Fed Chair Jerome Powell’s remarks closely following the meeting to gauge the likely pace ahead of interest rate cuts this year.

Otherwise, Beijing finally hinted this week that it’s open for negotiations with Washington on trade, thus calming investor concerns about the trade war.

On trading, Dow Jones edged 0.4% lower, or 25 points to 41,320 points, while S&P 500 declined 0.4%% to 5661 points, as NASDAQ slipped 0.6% to 17,868 points.

Bitcoin slid on Monday on track for the third loss in a row away from three-month highs amid active profit-taking, with the world’s most valuable cryptocurrency potentially testing the $90,000 barrier.

Now eyes are focused on the Federal Reserve’s policy meeting this week, expected to provide crucial clues on the path ahead for US interest rates this year.

The Price

Bitcoin fell 0.8% at Bitstamp today to $93,550, with a session-high at $94,804.

On Sunday, bitcoin shed 1.7% on profit-taking away from a three-month high at $97,938.

Bitcoin rose 0.6% last week, the fourth weekly profit in a row after strong purchases by global corporations and influx of investments into bitcoin exchange funds.

Crypto Market Value 

The market value of cryptocurrencies fell nearly $50 billion today to a total of $3026 trillion.

The Fed

Tomorrow, the Federal Reserve will convene and discuss monetary policies, expected to hold interest rates unchanged.

The Fed’s monetary statement and Chair Powell’s subsequent press conference will likely provide clues on the path ahead for policies.

US President Donald Trump continued to pressure Powell to cut interest rates, however he said won’t fire him before the end of term in May 2026.